Silver economy: demographic changes and economic opportunity

Abstract

Abstract. The purpose of the article is to justify the relevance of investing in the "silver economy", which consists of the development, production and sale of new innovative products and services to improve the quality of life of the elderly; to propose the implementation of those state policy measures that will help countries with a relatively stable population to reach the "golden age of aging". Methodology of research. The achievement of the purpose set in the article is carried out with the help of the following research methods: scientific abstraction, logical generalization and structural analysis. Findings. It is proposed to increase investments in the development of biotechnology, pharmaceuticals and telemedicine, increase the role of health and life insurance companies. It is recommended to ensure the budgetary stability of pension protection systems and long-term medical and social assistance. Practical value. Implementation of the proposed reforms will contribute to increasing the activity and productivity of the elderly. The silver economy is a concept that has attracted the attention of both politicians and economic analysts, it promises an increase in labor productivity and the creation of new jobs, the development of mechanisms for the inclusion of elderly people in socio-economic relations for the stable development of the economy. On the one hand, elderly people are a serious problem related to budget disparities, and on the other hand, they are a new resource for inclusive development due to the expansion of the labor market, consumption and production. The silver economy formulation was initiated in the 1970s in Japan in the context of increasing the availability of goods and services for the elderly. The silver economy is not a single sector, but a collection of products and services from many existing areas of the economy for older people, including information technology, the financial sector, housing, transportation, energy, tourism, culture, infrastructure. Improving the quality of education and investing in the health of today's young generation will help lay the foundations for healthy and active aging. If sustainable and fair pension and health care systems are formed, it will provide social protection to those who need it.